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Profit lag drags down Barloworld

Johannesburg - Shares in Barloworld [JSE:BAW] dropped more than 4% in early deals on Friday, a day after the South African industrial conglomerate gave a below-forecast profit guidance.
 
Barloworld, which leases and sells autos and earth-moving equipment, dropped as much as 4.1% to R70.02. The stock later recouped some of its losses and traded 3.35% lower at R70.60.

Shortly after the market closed on Thursday, the company said headline earnings per share, the primary profit measure in South Africa, likely rose to between 130 and 156 cents in the six months to end-March.

That was below a Reuters consensus of headline EPS of 177 cents per share.
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